Asian equities slipped, reflecting macroeconomic concerns and a muted mood on Wall Street triggered by Nvidia Corp.’s lackluster revenue forecast.
A gauge of Asian equities edged down 0.3%, with the region’s tech heavyweights among the biggest drags. Contracts for US benchmarks dipped Thursday after Nvidia’s third-quarter revenue and earnings met estimates but fell short of the highest estimates for future revenue.
Indian benchmarks underperformed as US indictment of Gautam Adani over an alleged bribery plot led to a tumble in the group’s shares. Nvidia’s earnings outlook rippled across its suppliers and global markets, given the company’s size and role in the artificial intelligence boom.
Geopolitical tensions also loomed over markets after Ukraine fired British cruise missiles at military targets inside Russia for the first time.
“Stellar results from Nvidia still couldn’t meet market’s lofty expectations,” said Charu Chanana, chief investment strategist at Saxo Markets.
